700bar Dispensing Collaboration in Germany

29th June 2012

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with GHR Hochdruck-Reduziertechnik GmbH (“GHR”), part of IMI plc, to collaborate on the deployment of dual 700bar and 350bar hydrogen refuelling products for the German Mobility market.

GHR has developed a mobile hydrogen dispenser for both 700 bar and 350 bar refueling which has been in use for several years in Germany. The strong pedigree in fluid control and pressurized systems also makes GHR an important partner in the supply chain for high pressure components.

Capability to refuel to 700 bar is of key importance as automotive OEM’s have specified this higher pressure for the fuel cell vehicles to be rolled out as part of the German and UK Mobility programmes.

The agreement will see the integration of an ITM Power hydrogen generation system with a GHR dispenser to fully address the requirement for green, 700 bar hydrogen refueling within the German market. ITM Power and GHR will combine their experience of achieving product compliance to provide a fully certified solution. The first embodiment will be used for refueling demonstrations, tendering and ultimately product roll out.

ITM Power and GHR are now in a position to offer a full refuelling solution in Germany.

Phil Doran, Managing Director of ITM Power GmbH, said: “I am delighted to formalise a relationship that has been many months in the making with a company already seen as a pioneer in 700 bar dispensing, which neatly complements our own core technical capabilities.”

Jan Andreas, Project Manager of GHR Hochdruck-Reduziertechnik GmbH, added: “Progress in merging our respective capabilities for the German market, which is clearly the early mover in the hydrogen refuelling sector has evolved seamlessly given the complementary nature of our goals, technologies and capabilities. We are delighted to complement our high-pressure storage capability with ITM’s proven electrolysis equipment.”

ITM Power is pleased to announce that J.C.B. Research and Valebond Consultants Limited, a company wholly owned by Jo Bamford have together acquired a strategic shareholding in the Company by way of a subscription for new ordinary shares, making them, in aggregate, ITM Power’s largest shareholder.